I like this cartoon explaining very well the cause of the collapsed of
American economy. A friend of mine said that the federal reserve is
just going to print the money to pay the bail. This will not happen if
banks were not easy to give loans just to anyone. Actually, the federal
reserve is illegal, it is not even part of the government. The Fed is
just a group of banks that decide how much money to print and how much
to sell money for. Under the constitution of America this is illegal.
He added that only congress is allowed to do this. By taking the money,
the government controls the banks, and with the control the government
could make the bank not give the money so they can keep control.
Actually the source of the mortgage problem in America, he said, is the
institutions that the previous government has created, Fannie Mae and
Freddie Mac. They are government companies that setup loans. It seems
complicated....government tried to help and ended up with a troublesome
situation....
The American economy is not collapsed. You are correct on the illegality of the Fed, based upon the Constitution of the United States; yes we can surmise that government interference and sellout of America's sovereign ability to deal with currency, during 1911, when it came under the control of the Federal Reserve, was the foundation of illegal and fraudulent actions against the citizens of America.
ReplyDeleteThe current "collapse" - better said, hardship - of our economy is because of the liberal "share the wealth" mantra starting with Bill Clinton, who started initiatives forcing lending agencies to be reckless in loan practices - George W. Bush who engaged in fiscal deficit spending is NOTHING compared to the crap Barack Obama (our first illegitimate president, has spent within his first three weeks in office.
As one of your other blog posts indicates, "no soup for Americans who do the right thing, everyone else is welcome to the wealth redistribution".
Socialism, has never worked, ever. It's rewarding the indolent and punishing the hard workers.
It takes the ability away from the individual to be Robin Hood, and vests this Robin Hood persona into a single person who wishes to parade around as "the only good guy around".